DMP Mutual Support Thread (Part 4)

maz1964

Ex-Spendaholic wrote: »

Just checking in to say hello. :wave:

Can anyone offer advice on Full and Finals? I've started a thread here:

http://forums.moneysavingexpert.com/showthread.html?t=1167139

hiya,

just off to the gym but have updated my quick thoughts on your linked thread and catch up laters okay

ciao to all for now maz

Yawzigal

Iv been in a DMP with cccs since Oct 2007. This week Egg have agreed to refund £4497 PPI premiums so reducing my loan with them. Please keep at it everyone, there are good moments as well as the tricky ones. This is my first post though I've been using the site for a year. I really wanted to share this with everyone who's in a similar position, its been invaluable support.

wen3

Okay Can someone please help me out what are PPI premiums and how do you go about getting a refund also charges on CC when you are on a DMP when/how do you, should you, claim these back?

sam89

Toffee_Penny wrote: »

Most debts eventually will go to court and will result in a ccj

HI Toffypenny,

That's not a true statement. I've been on a DMP for over a year with no hint of court or a CCJ. There are also many other people who have been DMPing for much longer with no CCJs.

Not being stroppy, I'm just aware how frightening I would have found that sentence 18 months ago and wanted to let newbies know that a DMP can stop interest and charges without court action.

Best wishes,
Sam,
x.

Toffee_Penny

Hi guys

It wasn't my intention to scare anyone with my previous post, my apologies if it did.

My take on it is that whilst some creditors will be ok with receiving bare minimum payments for the time being, they won't do it for 10+ years will they? They might freeze interest and charges for the time being but they won't do it forever, whilst seemingly helpful and sympathetic at the start of DMP's they still want their money a.s.a.p.

I can't remember who said it on here but someone mentioned that a creditor had begun charging interest again after about 8 months on a DMP actually wiping their small payments off, making them back at square one. Another received a default notice a year into paying their DMP.

You can actually invite a creditor to take you to court because they won't stop the interest and if you withhold your payments to them because they are reluctant to stop interest then it will go to court anyway.

We all have similar creditors on here and whilst some have stopped charges immediately others are still struggling to get them stopped on DMP's, it just depends on the individual case, but for some ccj's are the only answer to stop the debt escalating eventually.

We are looking at 10+ years in our case, Halifax are charging £150+ in interest and charges on a DMP that pays it £70. How long should I be prepared to keep paying like that? I might aswell throw my money in the bin.

CCJ's to most people mean men in wigs shouting at them for spending too much and it's not like that at all. The whole point of setting up a DMP is to help you get out of debt at a rate you can afford so you can have some kind of life but if creditors are reluctant and DCA's are being a-holes (Mackenzie Hall anyone?) then a ccj will be a godsend as long as you keep paying it.

maz1964

hiya Toffee Penny

i understand your explantion in post 2396, i can actually relate today very well in your thoughts about the ccj, i have a halifax cc, today i got their letter and im only paying 10.00 a month for a debt of 600 ish, now they are going to start charging me reduced interest of around 7.00 thus my 10.00 only 3.00 towards my debt, I now am coming to the point of seeing whether its best to not pay them and go to court and get a ccj and offer my 10.00 thus reducing my debt and am i wrong in thinking once a ccj is charges and interest will cease??????

or other alternative is get to see if they send me a correct true and valid cca.

so yes whilst 6 months ago they agreed to help me, now they will be taking something back - its just laughable, when on the other hand, their partner bos, with a higher debt, nearly 6 times more, have agreed no interest charges for 12 months,

so you see everyone, does get treated and its how each person gets to a point and sees whats best for them.

Of course i will be now sending halifax a letter asking them to reconsider as my other creditors are not charging me interest and it will not help me reduce my debt to them. But i now realise all this is like a game of chess, now let me see what my next move is........doh

i am certainly more knowledgeable about legal stuff now then i was at the early part of the year, and i do think people are sent silly letters and its just majority empty threats, as long as you are paying what you can - the creditors will either accept, with or without the charges/.interest, or after a while pass it on to other debt collection agencies, who so far only my debenhams and they are happy for me to continue paying what i offered, (of course they are they have paid a lower figure then what i owe and thus when i pay the whole back they will have made a profit) unless i can negotiate full and final settlement and they accept it.

all i can end with is, ive found my position that ive managed to offer all my creditors an amount they have all accepted for either 6 or 12 months, now im upto the 6 months, already one of them is trying to get more money out of my offer.

Have the weekend to mull over things and take some further advice and then see how im going to tackle this for the best for the long term

my credit file is already dashed - i really dont want any ccj, so will have to fight another way....

have a fun weekend, ciao laters maz

tranceaddict

Hi

As many of you know I make my first payment to CCCS on 1st October, so my creditors will get their first payment on or around 25th, as I haven't paid them the full amounts since 1st August (All september payments were tokens of £2) should I send them another token payment on 1st October or just leave it and they will get their money on 25th?

Also, as its my first payment I have to do it at the post office, but I am on a 12 hour shift at work that day and cannot get out, I don't want anyone else doing it for me (don't want them to know, and I want to be sure its done), will CCCS mind if it is paid on 2nd or 3rd Oct?

Many thanks

R

Jvic28

Toffee_Penny wrote: »

Most debts eventually will go to court and will result in a ccj,

I think if that were actually the case we would hear a lot more from people on this thread who have been getting ccjs. So pepps, don't worry. I still think ccjs are unlikely.

Jvic28

tranceaddict wrote: »

will CCCS mind if it is paid on 2nd or 3rd Oct?

For the 1st payment I don't think cccs mind if it's a couple of days late. However, are you in a position to pay it in a couple of days early. I paid my 1st payment using my online banking.

Jvic28

tranceaddict wrote: »

should I send them another token payment on 1st October or just leave it and they will get their money on 25th?

Oh I forgot, you could send token payments to let them know you haven't forgotten about them. £1 each is sufficient. Not completely necessary though but shows your being a good sport if you know what I mean.